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Date Entered: 10/22/2020
Subject: June 2020 NB Office and Warehouse Survey
Attachment: 218.pdf (Original file name: June 2020 Market Survey Synopsis (New Brunswick IOF & IIN).pdf)
Comment:

The total office vacancy rate in Fredericton and Saint John dropped, while Moncton’s rose year-over-year. The office vacancy rate for Saint John decreased 1.79 percentage points from 2019, finishing June 2020 at 16.47%. Moncton had a vacancy rate of 12.92%, up from 7.68% a year prior. Fredericton has the province’s lowest office vacancy, with a rate of 5.99%, 2.05 percentage points down from the year before. This is also the lowest rate amongst Atlantic Canada’s six major cities. To learn more, click on the attachment and view this PDF document using an Acrobat Reader Plug-in (available as a free download from the Adobe Web Site, www.adobe.com).

Market Surveys is a free service provided by Turner Drake & Partners Ltd. to landlords, tenants, investors and property developers in Atlantic Canada. The Market Surveys are the most comprehensive ever conducted in the region and cover 30 million square feet of space in over 600 office and warehouse buildings in H.R.M., Moncton, Saint John, Fredericton, Charlottetown and St. John’s. Market Surveys are archived on the public area of our web site at www.turnerdrake.com/newsresearch/surveys.asp.

The full results of our survey are available for purchase on a one-off or subscription basis. These include a wealth of detailed aggregate and building-specific market information on rental rates, property taxes and operating expenses, vacancy and absorption rates, and building amenities. To purchase or subscribe, please contact Alexandra Baird Allen at 506-634-1811 or abairdallen@turnerdrake.com.